Paul Allen McCulley (born March 13, 1957) is an American economist and former managing director at PIMCO. He coined the terms "Minsky moment" and "shadow banking system", which became famous during the Financial crisis of 2007–2009. He is currently a senior fellow at Cornell Law School and an adjunct professor at Georgetown McDonough School of Business. He retired from PIMCO in December 2010 and joined the Global Interdependence Center thinktank. McCulley adheres to Keynesian economics, and was particularly influenced by Hyman Minsky.